The Conservative government has brought in a non-refundable tax credit for monthly (or longer) public transit passes for commuting on buses, streetcars, subways, commuter trains and ferries after June 30, 2006.
To claim the credit on your Canadian federal income tax return, at a minimum you'll need to keep your monthly transit pass. That's all you'll need to support your claim if the pass shows
- that it is a monthly (or longer) pass
- the period for which the pass is valid
- name of transit authority or organization which issued the pass
- amount paid for the pass
- identity of rider.
If some of the information listed above is not on your pass, then you'll also have to keep receipts, cancelled cheques or credit card statements to support your claim.
